U.S. Markets closed

Power Integrations: 2Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ Power Integrations Inc. (POWI) on Thursday reported second-quarter net income of $10.8 million.

On a per-share basis, the San Jose, California-based company said it had profit of 37 cents. Earnings, adjusted for one-time gains and costs, came to 56 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.

The maker of integrated circuits used for power conversion posted revenue of $102.9 million in the period.

For the current quarter ending in October, Power Integrations said it expects revenue in the range of $111 million to $117 million.

Power Integrations shares have risen 44% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $88.02, a rise of 18% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on POWI at https://www.zacks.com/ap/POWI